My business idea is a Spanish chain restaurant. A sort of bar of “tapas” using the system of the sushi bar. Where all the different tapas are on a belt and each client can take the tapas that he want and pay for each one it takes. It is a chic and convivial place, where people will be able to discover the Spanish food and at the same time the Spanish culture because all the employees will be Spanish. The prices are quite high this is due to the quality of the product and the service that come directly from a local Spanish producer in Cadiz. We want to give an image of high standing bar restaurant for young business peoples.
The test results indicates that I am determine on what I do, I'm self confident and control my destiny, a medium need of achievement but a low need of independance, creativity and moderate calculated risk taking.
My opinion:
I agree with the result, even if I don't really understand the high result on the "drive and determination" that I don't really think correspond to my personnality, I'm not particularly self confident. I see me more as a organize person , I always calculate the risk before taking a decision, looking for many informations I don't take a decision before I'm shure that the result will be positive, quite optimistic. I prefer working in groups bacause I like to know th opinions of the others.
I'm not a creative person, don't really like changes, I prefer to plan and knwo where I'm going.
Opnion of the others:
My friends think that this result match with me ( not for the high score of the section 5), they see me as organized, serious and wanting to achieve correctly my work having all the elements before starting and also persistant on my idea.
Talent management
To become a successful entrepreneur, I would need some persons which have a different personality of mine. For example I would need a person which is creative, who as many ideas and make them real and tangible. I would also need persons who trust me and reasure me in my decision making because I'm not very self confident and at the same time a person very motivated even in a down period, a person that really believes on the project. I also like having all the information before taking a decision so I would maybe need a person helping me on the research and who is independent on his work can take initiatives even if this person enjoys working in group a me.
Contrary, I wouldn't be able to work with persons who don't do well their jobs or don't do it on time, don't take all the information before making a decision. I need to work with persons who a serious in their jobs, take time to do it well but at the same time respect the deadlines. Or persons who aren't organized: who forget meetings, don't find the documents and so on. Or person to self efficient, who like working alone, which who you can't have a real dialogue, that think that they are always right...
Picture search
I think that this picture is a good representation of entrepreneurship. A entrepreneur is a person who as a great idea, that at the begining maybe ca look stupid. As a consequence the entrepreneur don't listen to the other, he is shure that his idea is greate, so he goes out of the group and differentiate himself from the other. He is able to take the opportunity and quit the group to develop his new idea:MAKING HIMSELF DIFFERENT!!
I also like this picture because being an entrepreneur, is not only having a great idea but you also need people to work with, and help you to create your business idea. You can't do it by yourself, you need the expertise of others to help you to create your business.
The first one gives us all the information necessary to become an entrepreneur, giving many advices, information and rules. For example it explains how to start a new business, how to make your business grow, how to deal with the money, the marketing, advertisement and also some advices about the online business, it explains how to make your business visible on the internet, how to design it… which is very interesting because nowardays every business needs a website.
The second website, is a French web site very interesting, it gives a lot of information for managers in general. There is a part for the entrepreneurs, people who want to start a business explaining all the steps of this creation but it also contains some more specific articles about marketing, sales, communication, human resources or how to be a good manager and so on.
This two websites a very important for the new entrepreneurs, they give a clear vision of the steps to become a entrepreneur. They are very complete and general at the same time, they are useful for every business.
Competencies needed
To be a good entrepreneur and to be able to launch my business, I need some competencies. Because my business is a restaurant I will need two cooking chiefs, with at least one of them with a great experience in a tapas bar or a Spanish restaurant. To complete the team I will need two Spanish waitress because the tapas are on the belt, customers take directly the tapas from there so two waitresses are enough. A other aspect is the communication which is very important to attract clients and to have a good image (which for my business is chic and trendy) this goes with a good knowledge of internet to promote the restaurant's website. To finish the last important point is some order and purchasing skills because our products are directly important from a local Spanish producer, so I need some negociation skills and at the same time a person who as a good knowledge of the products.
I will know describe you more precisely, the three technical competencies that are important for my business:
-Purchasing skills: knowledge of purchasing techniques, methods and related negotiation skills. As I have already said, good purchasing skills are very important to negotiate the products and prices with the local producers in Spain.
- Multimedia skills: knowledge of multimedia systems and tools and their applications for presentation, design and internet. It is very important to have good multimedia and more precisely internet skills to be able to promote my business. It is also important to have a nice website.
- Marketing skills: knowledge of marketing concepts, methods, systems including positioning, segmentation, value network, pricing, advertising. This also includes web marketing to promote the website through internet. The marketing studies are important to know where to install the business, which are the more adequate prices…
Let’s know talk about the behavior competencies:
- Communication skills/ networking: it can be some public relations abilities to make the restaurant well-known and to foster a good relationship with the clients, suppliers and employees.
- Organizing skills: it permits to handle multiple activities (this is the case of my business handle the employees, the restaurant, the suppliers… and also because the restaurant is going to extend through France in a first time and all over the world later)
- Customer orientation: because we are a restaurant and we are at the service of the customer this skill is very important. It is important to integrate the customer perspective into our thinking, decision and action making.
- Quality orientation: the main purpose of our business is to offer to the customers some products of high quality. Because the food is expensive, the quality of the products proposed is essential. We install excellence at all levels of operations from the products to the service delivered.
My personal picture search
I have chosen this photo, because I think it represents well the entrepreneur. It is a person, who is conviced about his ideas, he takes risks, he isn’t afraid of the consequences however he is careful, he don’t take decision without thinking about the possible negative consequences.
Trend watching
To have a successful business, it is very important to know the trends of the moment, to be able to know what the people like and what they wait from your business. Today the main trend is "generosity" and "green environment" because it is difficult to apply green environment to my business,I have chosen for my business: “EMBEDDED GENEROSITY” trend. Generosity is very important nowadays. It is important to know that when you buy or consume something it can help other people.
http://trendwatching.com/trends/10trends2010/#embedded
I have chosen the story of Twitter that announced that they will begin selling wine through their label, called Fledgling Wine. The wine will be bottled from August 2010 and USD 5 of every bottle sold will go to a charity that organizes literacy programs for children around the world.
I think this is a great idea that could be used in my business. For example when disastrous events occur as for example in Haiti today, 10% of the price of bill of the client's meal will be donated to Haiti. This initiative could be used for every disastrous or sad event. We could also install on our website a page where people could leave comments about which cause they want to help, to donate.
Best practices
Looking to the definition of "best practices" on internet, we can find many definition, I will keep wikipedia's definition, which is: a technique, method, process, activity or reward that believed to be more effective at delivering a particular outcome than any other technique...when applied to a particular condition or circunstance. best practices can also be defined as the most efficient (least amount of effort) and effective (best results) way of accomplishing a task, based on repeatable procedures that have proven themselves over time for large numbers of people.
My business" best practices" would be:
- really to be an innovative restaurant, where you can find excellente Spanish food in a very trendy and chic atmosphere but at the same time the place is convivial, customers are seeting very close, the waitresses are Spanish, so they can discuss about Spain with you, giving you some advices... It is really a place that on one hand is chic and expensive with high quality food but at the same time is convivial, people even if they don't know them can speak to each other because they sit next to each other...
- The other "best practice" is that all the products are directly important from a local Spanish producer, with a improved supply chain management that allows to reduce delivery costs.
- Another best practice, is to propose some cooking clases once a week, to teach jow to cook the delicious Spanish tapas of the restaurant.
- To finish the communication strategy can be considered as "best practice" because we are going to use many communicatons supports as internet with (facebook, twitter, youtube...) but also the TV and radio (to promote the restaurant but also the cooking classes).
What about "next practice": The next practice is in fact future oriented, it doesn't exist and actually no one thinks about it it permits to differentiate your business by making something different in pricing, communication, storytelling...
Naked pizza
The co-founders of Naked Pizza wanted to change "fast food", proving to people that it can benefit people, that it could be healthy. There "best practice" would be to give a new and different image of the fast food, which would be HEALTHY, gaining the confidence of the consumers "pizza is for you". This great new idea has permitte them to change the mentality of the people about fast food. Their business has also generated jobs all aound the world. We have also to ad that the pizza are made with organic ingredients, their business s ecological.
Blue ocean
Blue ocean, contrary to the red ocean, denote all the industries not in existence today, unknown market space, untainted by compettion....The demand is created, there is an ample opportunity for growth that is profitable and rapid. The competition is irrelevant.
I think that my business is more "red ocean" because even if my business doesn't already exist, the competition rules are known, as well as the market space. My business installs a new concept of restauration, outperforming rivals.
Lets study know study, this companies and see why they are called as "blue ocean":
- Net Jet: founded in 1964 as one of the first private business jet charter and aircraft management companies. It offers fractional ownership and rental of private business jets. This was completly new, it permitted to people without enough money to buy a jet to use one.
-Body Shop: had the idea to produce natural beauty products which are ecological and ethical (no tests on animals). It was very new at the time of the creation of Body Shop before all beauty products countained chimical ingredients and weren't ethical.
-Starbucks: created a new trend, a new way of taking the coffee break. It is a place between home and work, where people can relax, read their newspaper, go on internet. or just meet their friends. Starbucks as created a new experience, it isn't just going to drink a coffee but really to leave a full ans relaxing experience.
-Ebay: was created in 1995 and was the first web site to sell products directly by internet with a revolutionnary system where people can fixe the price they won't for a product and then by a system of bids the price can go up and at a certain moment the bid stops and the last person will be able to get the product. The other aspect is that the products are not products that Ebay buy and sell, but products of people who want to sell them on the internet. So there isn't any cost for Ebay.
-Nintendo Wii: is a great and revolutionnary way to play video game. People are involved in the game, it permits also to do sport because you have to move...The console is wireless control, the Wii remote can be used as a handheld pointing device and detects movement in three dimensions. It is also able to receve messages and updates over the internet. It is a homr console for all the familly.
-Ikea: was created in 1943 and was the first furniture shop to sell cheap products in "kit", people had to assemble themselves the furniture. It is a real experience, the shop is designed as a real house (examples of bedroms, kitchen...). It also provides a restaurant and a playing ground for the children.
-Fedex: provides you a secure service, where the package are sure to arrive to destination, the client can also tranck his package to see where it is.
-CNN: founded in 1980 was the first network to provide 24hour television news coverage and the first all news television network in the US. This changed the rules of the news in television, telling the news in time without waiting traditional news for example in france at 1PM and 20PM.
My business idea: The Tapas Train Bar
My business idea is a Spanish chain restaurant. A sort of bar of “tapas” using the system of the sushi bar. Where all the different tapas are on a belt and each client can take the tapas that he want and pay for each one it takes. It is a chic and convivial place, where people will be able to discover the Spanish food and at the same time the Spanish culture because all the employees will be Spanish. The prices are quite high this is due to the quality of the product and the service that come directly from a local Spanish producer in Cadiz. We want to give an image of high standing bar restaurant for young business peoples.
My blog and presentation
To discover the blog of the Tapas train Bar, click on this link:
http://tapastrainbar.wordpress.com/
And here is the link for the power point presentation of my business
http://www.slideshare.net/elenawhite/tapas-train-bar
Results of thePalgrave test
The test results indicates that I am determine on what I do, I'm self confident and control my destiny, a medium need of achievement but a low need of independance, creativity and moderate calculated risk taking.
My opinion:
I agree with the result, even if I don't really understand the high result on the "drive and determination" that I don't really think correspond to my personnality, I'm not particularly self confident. I see me more as a organize person , I always calculate the risk before taking a decision, looking for many informations I don't take a decision before I'm shure that the result will be positive, quite optimistic. I prefer working in groups bacause I like to know th opinions of the others.
I'm not a creative person, don't really like changes, I prefer to plan and knwo where I'm going.
Opnion of the others:
My friends think that this result match with me ( not for the high score of the section 5), they see me as organized, serious and wanting to achieve correctly my work having all the elements before starting and also persistant on my idea.
Talent management
To become a successful entrepreneur, I would need some persons which have a different personality of mine. For example I would need a person which is creative, who as many ideas and make them real and tangible. I would also need persons who trust me and reasure me in my decision making because I'm not very self confident and at the same time a person very motivated even in a down period, a person that really believes on the project. I also like having all the information before taking a decision so I would maybe need a person helping me on the research and who is independent on his work can take initiatives even if this person enjoys working in group a me.Contrary, I wouldn't be able to work with persons who don't do well their jobs or don't do it on time, don't take all the information before making a decision. I need to work with persons who a serious in their jobs, take time to do it well but at the same time respect the deadlines. Or persons who aren't organized: who forget meetings, don't find the documents and so on. Or person to self efficient, who like working alone, which who you can't have a real dialogue, that think that they are always right...
Picture search
I think that this picture is a good representation of entrepreneurship. A entrepreneur is a person who as a great idea, that at the begining maybe ca look stupid. As a consequence the entrepreneur don't listen to the other, he is shure that his idea is greate, so he goes out of the group and differentiate himself from the other. He is able to take the opportunity and quit the group to develop his new idea:MAKING HIMSELF DIFFERENT!!
I also like this picture because being an entrepreneur, is not only having a great idea but you also need people to work with, and help you to create your business idea. You can't do it by yourself, you need the expertise of others to help you to create your business.
Web Research
These are the two web sites that I have chosen:www.entrepreneur.com http://www.manager-go.com
The first one gives us all the information necessary to become an entrepreneur, giving many advices, information and rules. For example it explains how to start a new business, how to make your business grow, how to deal with the money, the marketing, advertisement and also some advices about the online business, it explains how to make your business visible on the internet, how to design it… which is very interesting because nowardays every business needs a website.
The second website, is a French web site very interesting, it gives a lot of information for managers in general. There is a part for the entrepreneurs, people who want to start a business explaining all the steps of this creation but it also contains some more specific articles about marketing, sales, communication, human resources or how to be a good manager and so on.
This two websites a very important for the new entrepreneurs, they give a clear vision of the steps to become a entrepreneur. They are very complete and general at the same time, they are useful for every business.
Competencies needed
To be a good entrepreneur and to be able to launch my business, I need some competencies. Because my business is a restaurant I will need two cooking chiefs, with at least one of them with a great experience in a tapas bar or a Spanish restaurant. To complete the team I will need two Spanish waitress because the tapas are on the belt, customers take directly the tapas from there so two waitresses are enough. A other aspect is the communication which is very important to attract clients and to have a good image (which for my business is chic and trendy) this goes with a good knowledge of internet to promote the restaurant's website. To finish the last important point is some order and purchasing skills because our products are directly important from a local Spanish producer, so I need some negociation skills and at the same time a person who as a good knowledge of the products.
I will know describe you more precisely, the three technical competencies that are important for my business:
- Purchasing skills: knowledge of purchasing techniques, methods and related negotiation skills. As I have already said, good purchasing skills are very important to negotiate the products and prices with the local producers in Spain.
- Multimedia skills: knowledge of multimedia systems and tools and their applications for presentation, design and internet. It is very important to have good multimedia and more precisely internet skills to be able to promote my business. It is also important to have a nice website.
- Marketing skills: knowledge of marketing concepts, methods, systems including positioning, segmentation, value network, pricing, advertising. This also includes web marketing to promote the website through internet. The marketing studies are important to know where to install the business, which are the more adequate prices…
Let’s know talk about the behavior competencies:
- Communication skills/ networking: it can be some public relations abilities to make the restaurant well-known and to foster a good relationship with the clients, suppliers and employees.
- Organizing skills: it permits to handle multiple activities (this is the case of my business handle the employees, the restaurant, the suppliers… and also because the restaurant is going to extend through France in a first time and all over the world later)
- Customer orientation: because we are a restaurant and we are at the service of the customer this skill is very important. It is important to integrate the customer perspective into our thinking, decision and action making.
- Quality orientation: the main purpose of our business is to offer to the customers some products of high quality. Because the food is expensive, the quality of the products proposed is essential. We install excellence at all levels of operations from the products to the service delivered.
My personal picture search
I have chosen this photo, because I think it represents well the entrepreneur. It is a person, who is conviced about his ideas, he takes risks, he isn’t afraid of the consequences however he is careful, he don’t take decision without thinking about the possible negative consequences.
Trend watching
To have a successful business, it is very important to know the trends of the moment, to be able to know what the people like and what they wait from your business. Today the main trend is "generosity" and "green environment" because it is difficult to apply green environment to my business,I have chosen for my business: “EMBEDDED GENEROSITY” trend. Generosity is very important nowadays. It is important to know that when you buy or consume something it can help other people.
http://trendwatching.com/trends/10trends2010/#embedded
I have chosen the story of Twitter that announced that they will begin selling wine through their label, called Fledgling Wine. The wine will be bottled from August 2010 and USD 5 of every bottle sold will go to a charity that organizes literacy programs for children around the world.
I think this is a great idea that could be used in my business. For example when disastrous events occur as for example in Haiti today, 10% of the price of bill of the client's meal will be donated to Haiti. This initiative could be used for every disastrous or sad event. We could also install on our website a page where people could leave comments about which cause they want to help, to donate.
Best practices
Looking to the definition of "best practices" on internet, we can find many definition, I will keep wikipedia's definition, which is: a technique, method, process, activity or reward that believed to be more effective at delivering a particular outcome than any other technique...when applied to a particular condition or circunstance. best practices can also be defined as the most efficient (least amount of effort) and effective (best results) way of accomplishing a task, based on repeatable procedures that have proven themselves over time for large numbers of people.
My business" best practices" would be:
- really to be an innovative restaurant, where you can find excellente Spanish food in a very trendy and chic atmosphere but at the same time the place is convivial, customers are seeting very close, the waitresses are Spanish, so they can discuss about Spain with you, giving you some advices... It is really a place that on one hand is chic and expensive with high quality food but at the same time is convivial, people even if they don't know them can speak to each other because they sit next to each other...
- The other "best practice" is that all the products are directly important from a local Spanish producer, with a improved supply chain management that allows to reduce delivery costs.
- Another best practice, is to propose some cooking clases once a week, to teach jow to cook the delicious Spanish tapas of the restaurant.
- To finish the communication strategy can be considered as "best practice" because we are going to use many communicatons supports as internet with (facebook, twitter, youtube...) but also the TV and radio (to promote the restaurant but also the cooking classes).
What about "next practice":
The next practice is in fact future oriented, it doesn't exist and actually no one thinks about it it permits to differentiate your business by making something different in pricing, communication, storytelling...
Naked pizza
The co-founders of Naked Pizza wanted to change "fast food", proving to people that it can benefit people, that it could be healthy. There "best practice" would be to give a new and different image of the fast food, which would be HEALTHY, gaining the confidence of the consumers "pizza is for you". This great new idea has permitte them to change the mentality of the people about fast food. Their business has also generated jobs all aound the world. We have also to ad that the pizza are made with organic ingredients, their business s ecological.
Blue ocean
Blue ocean, contrary to the red ocean, denote all the industries not in existence today, unknown market space, untainted by compettion....The demand is created, there is an ample opportunity for growth that is profitable and rapid. The competition is irrelevant.I think that my business is more "red ocean" because even if my business doesn't already exist, the competition rules are known, as well as the market space. My business installs a new concept of restauration, outperforming rivals.
Lets study know study, this companies and see why they are called as "blue ocean":
- Net Jet: founded in 1964 as one of the first private business jet charter and aircraft management companies. It offers fractional ownership and rental of private business jets. This was completly new, it permitted to people without enough money to buy a jet to use one.
-Body Shop: had the idea to produce natural beauty products which are ecological and ethical (no tests on animals). It was very new at the time of the creation of Body Shop before all beauty products countained chimical ingredients and weren't ethical.
-Starbucks: created a new trend, a new way of taking the coffee break. It is a place between home and work, where people can relax, read their newspaper, go on internet. or just meet their friends. Starbucks as created a new experience, it isn't just going to drink a coffee but really to leave a full ans relaxing experience.
-Ebay: was created in 1995 and was the first web site to sell products directly by internet with a revolutionnary system where people can fixe the price they won't for a product and then by a system of bids the price can go up and at a certain moment the bid stops and the last person will be able to get the product. The other aspect is that the products are not products that Ebay buy and sell, but products of people who want to sell them on the internet. So there isn't any cost for Ebay.
-Nintendo Wii: is a great and revolutionnary way to play video game. People are involved in the game, it permits also to do sport because you have to move...The console is wireless control, the Wii remote can be used as a handheld pointing device and detects movement in three dimensions. It is also able to receve messages and updates over the internet. It is a homr console for all the familly.
-Ikea: was created in 1943 and was the first furniture shop to sell cheap products in "kit", people had to assemble themselves the furniture. It is a real experience, the shop is designed as a real house (examples of bedroms, kitchen...). It also provides a restaurant and a playing ground for the children.
-Fedex: provides you a secure service, where the package are sure to arrive to destination, the client can also tranck his package to see where it is.
-CNN: founded in 1980 was the first network to provide 24hour television news coverage and the first all news television network in the US. This changed the rules of the news in television, telling the news in time without waiting traditional news for example in france at 1PM and 20PM.
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